WASHINGTON (DC News Now) — Treasury Secretary Janet Yellen said this week the United States could hit the debt limit ‘as early as June 1.’

President Joe Biden is set to meet with House Speaker Kevin McCarthy, Senate Majority Leader Chuck Schumer, and Senate Minority Leader Mitch McConnell at the White House this week to discuss just that.

Mychael Schnell who is a Congressional Reporter with our media partners at The Hill breaks down what we expect from the meeting and what it could mean for the American people if an agreement is not reached.